wp content uploads 2024 06 PSC Order No. 54 2017 Docket 640 STJ Ferry Rate Investigation Commiss.07f2dbbe
GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES PUBLIC SERVICES COMMISSION IN RE ) ) TRANSPORTATION SERVICES OF ST. ) Docket No. 640 JOHN, INC. AND VARLACK VENTURES, __ ) PSC Order No. 54/2017 INC. RATE INVESTIGATION ) ) ORDER WHEREAS, the Virgin Islands Public Services Commission (hereinafter “PSC” or the “Commission”) opened an investigation into the fares and services of the franchise passenger ferry operations between St. Thomas and St. John; and WHEREAS, the Franchisees, Varlack Ventures and Transportation Services of St. John, have requested an increase in their revenues in the course of this proceeding; and WHEREAS, the Commission appointed Attorney Jennifer Jones as Hearing Examiner to preside over the hearings for the Ferry Franchisees’ Petition for an increase in rates; and WHEREAS, the Commission received the Final Report and Recommendations from the Hearing Examiner; and WHEREAS, on March 21, 2017, the Commission held a meeting in the Commission’s offices on both St. Thomas and St. …
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GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES PUBLIC SERVICES COMMISSION IN RE ) ) TRANSPORTATION SERVICES OF ST. ) Docket No. 640 JOHN, INC. AND VARLACK VENTURES, __ ) PSC Order No. 54/2017 INC. RATE INVESTIGATION ) ) ORDER WHEREAS, the Virgin Islands Public Services Commission (hereinafter “PSC” or the “Commission”) opened an investigation into the fares and services of the franchise passenger ferry operations between St. Thomas and St. John; and WHEREAS, the Franchisees, Varlack Ventures and Transportation Services of St. John, have requested an increase in their revenues in the course of this proceeding; and WHEREAS, the Commission appointed Attorney Jennifer Jones as Hearing Examiner to preside over the hearings for the Ferry Franchisees’ Petition for an increase in rates; and WHEREAS, the Commission received the Final Report and Recommendations from the Hearing Examiner; and WHEREAS, on March 21, 2017, the Commission held a meeting in the Commission’s offices on both St. Thomas and St. Croix, United States Virgin Islands to consider this matter; WHEREAS, it was demonstrated that the Commission had not received the audited financial statements of the franchisees; and WHEREAS, it is acknowledged that following financial information was not previously provided to the Hearing Examiner; therefore the Commission now directs the franchisees to provide the following: 1. Schedule detail supporting Operating Expenses, specifically including but not limited to- a. Full schedule of compensation expense by company and position; b. Schedules of amortization and depreciation amounts included in opex, by asset; c. Maintenance and repair expense projected, by vessel, including any annual allocation for uncertainty; d. 3rd party ticketing expense by contract; e. Identification of professional fees; and f. Lease expense, if any.